萨里大学收益管理1.ppt

* * * * * * * * * * * * * * * * * * * * * * * * Dynamic Value-Based Pricing Sangwon Park Learning Outcomes Examine the components of a value-based approach to pricing Define price transparency, price parity, rate integrity and price fencing Explore the impact of demand on price Price/Value Relationship Understand customers and their motivation for making purchase decisions. Analyse customer purchasing behaviour by market segment and determine the discriminating elements of price unique to each segment. Learn how customers perceive and react to price. The more an organisation understands its current and potential customers, the better it will develop products/services to match its customers’ value/price perceptions. “The real issue is value, not price.” Price is the amount of money charged for a good or service Or is the value that consumers exchange during the acquisition of products and services The only marketing mix element that produces revenue Charging too much chases away potential customers, charging too little cuts revenue Pricing Approaches Intuitive approach: Guess the price and monitor the results Trial and error approach: common sense Advantage: Reacts directly to the market, competition, economic situation, weather… Problem: Inconsistent overtime Bad image Confusion to the clients Dissatisfaction of customers Pricing Approaches, Cont. Cost Oriented approach: Rule of thumb: charge $1 per $1000 of room cost Hubbart Formula: method to calculate a hotel room rate: total cost + desired profit / total # of rooms = average price per room Ignores that pricing should be done on supply/demand Assumes no market segmentation Fails to take into account the perceived value Product Cost Price Value Customers Customer Product Price Cost Value Pricing Approaches, Cont. Passive approach or Competitive Driven: Competitive pricing: follow the competition Advantages: Reduce risk (1st doing it!) Potential customer accepts it (widely used) Easy to do, sell understand D